The term branding is often narrowly defined as the marketing of a product. But in reality, branding is much broader, and it is just as important for a company to have a strong brand as it is for a product to have one.
Branding is a way of distinguishing your company from its competitors and clarifying what it is that your company does that makes it better than the competition. It is a way of making a memorable impression on your customers and clients. And it is a way of telling them what to expect from your company, whether they are consumers or clients.
A strong brand can make a company a stand-out success. It can even help to create a new market, or at least carve out a niche within an existing market, in which the company can be successful.
A strong brand can also be a company’s best defense against competition. When another company tries to move into your market, its brand is not well known among potential customers and clients, and it takes time for its brand to become familiar to them. You can use this time to promote and strengthen your own brand.